The speed at which homes sell can often point to the desirability of an area. Today, by parsing data obtained from Regional Multiple Listing Service, we break down the region's ZIP codes by the number of days, on average, that homes spent on the market last quarter.

While suburbs ruled the day in our home sales report — 16 of the top 25 neighborhoods fell outside of Portland city limits — it was the urban 'hoods that were moving homes at a blistering pace. Of the 25 fastest-selling ZIPs, 14 fall inside city limits, including four of the top five. Across the region, homes spent an average of 66 days on the market before selling. That's nearly 28 percent faster than the first quarter, and 18 percent less than the second quarter of 2013.

So, back to all those red stickers you've been seeing. Did your neighborhood make the list among Portland's 25 fastest-selling? Click through the gallery above to find out.

Editor's note: To ensure quality of the fastest-selling neighborhoods study, we only ranked ZIP codes that had at least 30 home sales in the second quarter.

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